Patient Handling Equipment Market to Exhibit a Remarkable CAGR of 6.2% by 2032 | Industry Trends, Strategies, Size, Share and Regional & Global Analysis

According to the most recent analysis by Emergen Research, the market for patient handling equipment will have a value CAGR of 6.2% during the projected period and will be worth USD 10.40 billion in 2022. The market for patient handling equipment has been expanding steadily over the past few years. Equipment used to move, transfer, and transport patients who need medical attention is referred to as patient handling equipment. Stretchers, hoists, slings, transfer aids, wheelchair ramps, and other items are included in the equipment.

The rising number of senior patients who need medical attention is one of the main factors driving the market for patient handling equipment. The World Health Organisation (WHO) predicts that by 2050, there will be 2 billion more individuals aged 60 or older than there were in 2015. The demand for patient handling equipment in hospitals, nursing homes, and other healthcare facilities is anticipated to increase as a result of this demographic shift.

Growing healthcare provider awareness of the significance of safe patient handling is another major factor driving the market. Manual patient handling can result in injuries to both patients and carers, as well as longer recovery times and more expensive medical care. The overall quality of treatment can be enhanced and such injuries can be avoided with the use of patient handling equipment.

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The market for patient handling equipment confronts a number of obstacles despite the encouraging development drivers. One of the biggest issues is the equipment's expensive price, which can dissuade healthcare providers from making investments in it. Accidents and injuries may also result from healthcare personnel' lack of understanding and training regarding how to utilise the equipment properly.

To address these issues and encourage the usage of patient handling devices, government agencies and healthcare providers have launched a number of programmes. For instance, the Occupational Safety and Health Administration (OSHA) in the US has produced recommendations for the use of patient handling equipment in its standards for safe patient handling. Additionally, a number of hospitals and healthcare facilities have begun offering training courses on how to use patient handling equipment to their staff.

In terms of market growth factors, technological advances are anticipated to dominate the patient handling equipment market in the upcoming years. For instance, the creation of electric and hydraulic hoists and slings has simplified patient transfers for carers in a safe and comfortable manner. Furthermore, the incorporation of wireless technology and sensors into patient handling equipment has made it possible to remotely monitor patients, which can enhance patient outcomes and lower healthcare costs.

Major Companies and Competitive Landscape:

Some major companies in the global market report include Medtronic, Stryker, Joerns Healthcare LLC., Handicare Inc., Prism Medical Products, LLC, Stiegelmeyer GmbH & Co. KG, GF Health Products, Inc., Etac AB., Arjo, Lepu Medical Technology (Beijing) Co., Ltd.

One of the key strategies adopted by companies in the patient handling equipment market is mergers and acquisitions. For instance, in 2018, Hill-Rom Holdings, Inc. acquired Mortara Instrument, Inc., a provider of diagnostic cardiology and patient monitoring solutions. This acquisition enabled Hill-Rom to expand its product portfolio and strengthen its position in the patient handling equipment market.

In addition to product innovation, companies are also focusing on partnerships and collaborations to expand their market presence. For instance, in 2021, Handicare Group AB entered into a partnership with Sunrise Medical LLC to distribute its products in the United States.

The patient handling equipment market is also witnessing the entry of new players, which is expected to increase competition in the market. These players are focusing on offering cost-effective and innovative products to gain market share. For instance, in 2021, Merivaara Corporation, a Finnish medical technology company, entered the patient handling equipment market with the launch of its new mobile patient lift, MeriMove.

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Segmentation Insights for Patient Handling Equipment Market Report:

The global patient handling equipment market has been segmented by Emergen Research based on product type, care, end-use, and region. In terms of product type, the market has been segmented into ambulatory aids, patient lifts, stretchers and wheelchairs, medical beds, slings, and others. The patient lifts segment is expected to witness significant growth during the forecast period, owing to the rising demand for safe and efficient patient transfer devices.

Based on care, the patient handling equipment market has been segmented into accessory, lifting, transfer, wound care, critical care, and others. The lifting segment is expected to account for the largest share of the market during the forecast period, due to the increasing need for patient lifts and transfer devices in hospitals and clinics.

In terms of end-use, the market has been segmented into hospitals and clinics, ambulatory services, and others. The hospitals and clinics segment is expected to account for the largest share of the market during the forecast period, owing to the increasing number of hospital admissions and rising demand for patient handling equipment in healthcare facilities.

Lastly, the report provides a regional outlook for the global Patient Handling Equipment market, which includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report highlights several countries within each region, such as the U.S., Canada, Germany, the U.K., China, India, Brazil, and Saudi Arabia, among others.

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